(401) k
What will happen to the money in my 401(k) plan?
Your separation status will be communicated to Fidelity within two weeks of your Termination Date. If your vested balance in the 401(k) Plan is greater than $1,000, you will have the option of taking a distribution of your balance at any time, or it may be left in the plan. Distributions from the 401(k) plan are eligible to be rolled over into an Individual Retirement Account or another qualified retirement plan. If your vested balance is equal to or less than $1,000, your account balance will be automatically distributed to you. If you currently have an outstanding loan from the 401(k) plan, you will receive information regarding your loan options from Fidelity. If you have questions about your account, or wish to request a distribution, please contact Fidelity Investments at (800) 742-4015 or www.401k.com.
Pension
What will happen to my balance in the Luxottica Group Pension Plan?
If your balance is 100% vested and less than $5,000, you will be contacted within 6 months following your Termination Date with your distribution options. If your balance is 100% vested balance and over $5,000, you must wait until age 55 or 65 to receive your pension benefits. If you have 10 or more Years of Service (defined by the plan as a calendar year with at least 1,000 hours worked) with Luxottica, you are eligible to request a distribution from the Pension Plan at any time after reaching age 55. If you have less than 10 Years of Service with Luxottica, you are eligible to request a distribution of your vested balance from the Pension Plan when you reach age 65. Prior service with Cole National does not count towards the 10 Years of Service required for early distribution at age 55. As long as you have a vested balance in the Pension Plan, you will continue to receive interest on your account. Call (866) 431-8484 or email pension@luxotticaretail.com with any questions or to begin your pension benefits.